Section 2 in The Insurance Regulatory And Development Authority (Investment) Regulations, 2000
2. Definitions .-In these regulations, unless the context otherwise requires,-
(a)"Act" means the Insurance Act, 1938 (4 of 1938);(b)"accretion of funds" means investment income, gains on sale/redemption of existing investment and operating surplus;(ba)[ "Investment Assets" mean all investments made out of:(i)in the case of a Life Insurer-(a)share-holders funds representing solvency margin, non-unit reserves of unit linked insurance business, participating and non-participating funds of policy-holders;(b)policy-holders funds of pension and general annuity fund at their carrying value; and(c)policy-holders unit reserves of unit linked insurance business at their market value; and(ii)in the case of a General Insurer-(a)share-holder funds representing solvency margin and policy-holders funds at their carrying value as shown in its balance sheet drawn as per the Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditors' Report of Insurance Companies) Regulations, 2000, but excluding items under the head "Miscellaneous Expenditure";][[(c) "Authority" means the Insurance Regulatory and Development Authority established under sub-section (1) of section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999);(ca)"Group" means,-(i)two or more individuals, association of individuals, firms, trusts, trustees or bodies corporate or any combination thereof, which exercises, or is established to be in a position to exercise, control, directly or indirectly, over any body corporate, firm or trust, or(ii)Associated persons, as may be stipulated by the Authority, from time to time, by issuance of guidelines under these regulations;](cb)[ "Financial Derivatives" means a derivative as defined under clause (aa) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), and includes a contract which derives its value from interest rates of underlying debt securities and such other derivative contracts as may be stipulated by the Authority, from time to time;] [Added by Notification No. IRDA/Reg./1/2004, dated 1.1.2004 (w.e.f. 5.1.2004). ][Added by Notification No. IRDA/Reg./1/2004, dated 1.1.2004 (w.e.f. 5.1.2004). ](cc)[ Money Market Instruments .-Money Market Instruments shall comprise of short term funds with maturity not more than one year comprising of the following instruments:(1)Certificate of deposit rated by a credit rating agency registered under SEBI (Credit Rating Agencies) Regulations, 1999.(2)Commercial paper rated by a credit rating agency registered under SEBI (Credit Rating Agencies) Regulations, 1999.(3)Repose, Reverse Repo.(4)Treasury Bills.(5)Call, Notice, Term Money.(6)CBLO as per Schedule I and II of these regulations.(7)Any other instruments as may be prescribed by the Authority;](d)"Principal Officer" means any person connected with the management of an insurer or any other person upon whom the Authority has served notice of its intention of treating him as the principal officer thereof;(e)all words and expressions used herein and not defined but defined in the Insurance Act, 1938 (4 of 1938), or in the Insurance Regulatory and Development Act, 1999 (41 of 1999), or in any rules or regulations made thereunder, shall have the meanings respectively assigned to them in those Acts or rules or regulations.
